Here's a breakdown of what this script does, explained simply for someone who doesn't code:
Overall Purpose:
This script is designed for the MetaTrader platform (likely MetaTrader 4). It's an automated trading system, often called an "Expert Advisor" (EA), that aims to place a series of buy and sell orders based on price movements. It's attempting a grid-like trading strategy.
Key Settings (External Variables):
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StartingLot: The initial size of the trades it will place (e.g., 0.01 lots). Think of this as how much "stock" it's buying or selling in each individual trade.
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IncreasePercentage: A small percentage (e.g., 0.001) that it will increase the lot size with each subsequent trade in the series. If it places multiple trades, each one will be slightly larger than the last.
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DistanceFromPrice: A small distance (e.g., 0.0010) away from the current price where it will start placing its orders. It avoids placing orders exactly at the current market price.
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SpaceBetweenTrades: The distance, measured in "points," between each of the buy or sell orders it places. This determines how far apart the grid lines are. A point is a standard unit of measure for price movement in trading.
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NumberOfTrades: The total number of buy and sell orders that the script will attempt to place.
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Takeprofit: This is how far the price needs to move in your favor ("points") for a trade to automatically close and take a profit.
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StopLoss: How far the price can move against you ("points") before a trade automatically closes to limit losses. Set to 99999, the script effectively disables stop loss by making it too far to execute.
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TrailingStop: If a trade goes in your favor, the stop-loss order will "trail" behind the price, locking in profits. This setting determines how closely the stop loss follows the price ("points").
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TradeLong: A true/false setting that determines whether the script is allowed to place buy orders ("long" positions).
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TradeShort: A true/false setting that determines whether the script is allowed to place sell orders ("short" positions).
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Magic: A unique identification number. This helps the script manage only its own trades and avoid interfering with other EAs or manual trades.
How it Works (Simplified):
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Initialization: When the script starts, it prepares itself. It doesn't do much other than get ready.
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Main Loop (start() function): This is the core of the script. It runs repeatedly while the script is active.
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Order Placement: The script checks how many orders it has currently placed. If the number is less than
NumberOfTrades
, it attempts to place more.- It calculates the lot size for the next trade, increasing it slightly based on the
IncreasePercentage
. - It calculates the price levels at which to place the buy and sell orders, based on the current price,
DistanceFromPrice
, andSpaceBetweenTrades
. - It sends "Buy Stop" and "Sell Stop" orders to the trading platform. These are pending orders that will only activate if the price reaches the specified levels.
- The script monitors for errors during order placement and prints messages if something goes wrong.
- It calculates the lot size for the next trade, increasing it slightly based on the
-
Trailing Stop Management:
- The script constantly checks the currently opened trades.
- If the script find a trade and that trade goes in a favorable direction by a certain number of "points", the stop loss orders are moved to lock in profits.
-
Important Considerations:
- Risk: Grid trading strategies can be risky. If the price moves strongly in one direction, the script can open many losing trades, potentially leading to significant losses.
- Market Conditions: This type of strategy may work better in ranging or sideways markets than in strongly trending markets.
- Customization: The many settings allow for some customization, but understanding how these settings interact is crucial for successful use.
ÿþ
e x t e r n d o u b l e S t a r t i n g L o t = 0 . 0 1 ;
e x t e r n d o u b l e I n c r e a s e P e r c e n t a g e = 0 . 0 0 1 ;
e x t e r n d o u b l e D i s t a n c e F r o m P r i c e = 0 . 0 0 1 0 ;
e x t e r n i n t S p a c e B e t w e e n T r a d e s = 1 5 0 ;
e x t e r n i n t N u m b e r O f T r a d e s = 2 0 0 ;
e x t e r n i n t T a k e p r o f i t = 2 0 0 ;
e x t e r n i n t S t o p L o s s = 9 9 9 9 ;
e x t e r n i n t T r a i l i n g S t o p = 1 5 0 ;
e x t e r n b o o l T r a d e L o n g = t r u e ;
e x t e r n b o o l T r a d e S h o r t = t r u e ;
e x t e r n i n t M a g i c = 1 ;
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i n t P O S _ n _ B U Y ;
i n t P O S _ n _ S E L L ;
i n t P O S _ n _ B U Y S T O P ;
i n t P O S _ n _ S E L L S T O P ;
i n t P O S _ n _ t o t a l ;
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i n t i n i t ( )
{
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r e t u r n ( 0 ) ;
}
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i n t d e i n i t ( )
{
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r e t u r n ( 0 ) ;
}
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i n t s t a r t ( )
{
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s t r i n g D i s p l a y T e x t = "